Streetbeat News

Revenues

AVGO

Broadcom forecasts FY24 revenue to be approximately $50 billion, surpassing the estimated $45.76 billion. The company also anticipates an adjusted EBITDA margin of around 60% of the projected revenue.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 9:17 pm

CMTL

Comtech reported a 2.1% sequential increase in Q1 sales, reaching $151.90 million.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 9:17 pm

RH

RH, formerly known as Restoration Hardware, has updated its FY23 revenue forecast to a range of $3.06 billion to $3.08 billion, which aligns with the higher end of the analyst estimates of $3.08 billion. Additionally, the company anticipates an adjusted operating margin between 13.6% and 14%.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 9:15 pm

SWBI

Smith & Wesson Brands (NASDAQ:SWBI) reported Q2 adjusted earnings of $0.14 per share, meeting analyst estimates, but marking a 46.15% decrease from the previous year. Quarterly sales reached $125.00M, slightly surpassing the $123.90M estimate and showing a 3.28% increase from the prior year.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 9:09 pm

LULU

Lululemon anticipates adjusted earnings per share (EPS) for fiscal year 2023 to be between $12.34 and $12.42, with net revenue projected to be between $9.549 billion and $9.584 billion.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 9:08 pm

LULU

Lululemon has projected its Q4 net revenue to be between $3.135B and $3.170B, which is slightly below the estimated $3.18B.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 9:06 pm

NXST

NewsNation and The CW Network attracted over 4 million viewers for the GOP Presidential primary debate, with NewsNation achieving a record 1.6 million viewers and The CW hitting its highest primetime audience since 2018. The debate was particularly successful in the New York City market. NewsNation's growth is highlighted by a 73% increase in total viewers and a 90% rise among adults 25 to 54 in weekday primetime year-to-date. The event's success is a testament to the network's growth since its inception three years ago.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 8:39 pm

BNBUSD

Binance's BNB token did not participate in the recent crypto market surge due to the company pleading guilty to anti-money-laundering and sanctions violations, resulting in a $4.3 billion penalty. The Justice Department filed criminal charges against former CEO Changpeng Zhao. BNB's value increased by 1.5% over the past week but declined by 6.8% over the last 30 days and 18% over the past year. Binance's market share in spot and derivatives trading has decreased, and it experienced significant customer withdrawals in November 2023.

Portfolio Pulse from Khyathi Dalal

December 07, 2023 | 7:54 pm

C

Citigroup Inc (NYSE:C) CFO Mark Mason announced at the Goldman Sachs conference that the bank's major reorganization will cost approximately $1 billion in restructuring and severance charges, aiming to complete by the end of Q1 next year. The plan includes management downsizing and potential layoffs. Citigroup aims to reduce annual expenses to $51-$53 billion to meet profit targets, excluding a special FDIC assessment of $1.65 billion. The bank forecasts 2023 expenses at $54 billion and revenue at the lower end of previous guidance, around $78 billion. Post-restructuring, Citigroup targets an 11%-12% return on average tangible common shareholders equity in the medium term. Citigroup shares rose 1.67% to $48.66.

Portfolio Pulse from Lekha Gupta

December 07, 2023 | 6:42 pm

F

RIVN

TSLA

WKSP

Tesla Inc (TSLA) delivered the first units of its Cybertruck, while facing production challenges. Ford Motor (F) set a new EV sales record with its electric pickup, the Lightning, and Worksport (WKSP, WKSPW) expanded its factory production, adding an assembly line for its solar-powered tonneau cover and portable battery system. Rivian Automotive (RIVN) was outpaced by Ford in November EV sales, despite being the first to market with its R1T electric pickup. The electric pickup market is becoming increasingly competitive with new models and technological advancements.

Portfolio Pulse from Upwallstreet

December 07, 2023 | 6:17 pm